Royal Bank Of Canada Boosts CubeSmart (NYSE:CUBE) Price Target to $46.00

CubeSmart (NYSE:CUBE) had its price target upped by investment analysts at Royal Bank Of Canada from $43.00 to $46.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 12.22% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research report on Tuesday, January 20th. Truist Financial lowered their price objective on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Barclays dropped their price objective on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. UBS Group reduced their target price on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, KeyCorp restated a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, CubeSmart presently has a consensus rating of “Hold” and a consensus price target of $44.13.

CubeSmart Price Performance

CUBE stock opened at $40.99 on Monday. The stock’s 50 day moving average price is $38.16 and its 200 day moving average price is $38.70. The firm has a market cap of $9.31 billion, a P/E ratio of 28.27, a PEG ratio of 13.02 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.47 and a current ratio of 0.04. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13.

Hedge Funds Weigh In On CubeSmart

Institutional investors and hedge funds have recently made changes to their positions in the business. Wiser Advisor Group LLC bought a new position in CubeSmart in the third quarter worth about $28,000. True Wealth Design LLC raised its position in shares of CubeSmart by 308.2% during the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 524 shares during the period. Private Trust Co. NA lifted its holdings in shares of CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 478 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in CubeSmart by 174.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 568 shares during the period. Finally, Huntington National Bank boosted its position in CubeSmart by 43.3% during the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 295 shares during the period. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.